Mamdani, the presumptive Democratic nominee to be the next mayor of New York and a self-identified democratic socialist, said Sunday billionaires contribute to inequality.
This is a good question: is it okay for you as a person to control a company that has grown that large? Maybe nudging people to give up control of entities that large is a good side effect.
Give up control to whom? Some megacorp with infinite money would just buy a majority stake (often referred to as a hostile takeover) and wind up owning everything to an even larger extent than today.
Sure, but that’s not what’s going to happen as a side effect of taxing unrealized gains, like what was discussed in this thread until now. A gradual transfer of ownership to the workers would have to be nudged in some other way.
In competitive industries (read: tech) this does happen to some extent in the form of stock being part of the compensation, but that’s not going to happen organically for every employment situation.
This is a good question: is it okay for you as a person to control a company that has grown that large? Maybe nudging people to give up control of entities that large is a good side effect.
Give up control to whom? Some megacorp with infinite money would just buy a majority stake (often referred to as a hostile takeover) and wind up owning everything to an even larger extent than today.
The employees who actually create the wealth. That’s to whom control should go
Sure, but that’s not what’s going to happen as a side effect of taxing unrealized gains, like what was discussed in this thread until now. A gradual transfer of ownership to the workers would have to be nudged in some other way.
In competitive industries (read: tech) this does happen to some extent in the form of stock being part of the compensation, but that’s not going to happen organically for every employment situation.